BMO eclipse Visa Infinite Card Review: Are the 5x Points Worth the $120 Fee?

Did the promise of 5x points on your biggest expenses and a $50 annual credit on the BMO eclipse Visa Infinite Card catch your eye? Perfect. Those P1 highlights are exactly why this is one of BMO’s flagship premium cards.

But you’re here for the P2, which means you’re smart. You want the details behind the marketing. What is a “BMO Reward point” actually worth? Is that 5x points *really* 5% cash back? What’s the spending cap? And is the $120 annual fee (waived for the first year) really worth it?

In this deep-dive review, we are breaking down every single aspect. We’ll cover the massive 70,000-point welcome bonus, the *true* value of its 5x categories, and the hidden drawbacks (like its 2.5% FX fee) that you must know before you apply.

A Detailed Analysis of Your Benefits

The BMO eclipse Visa Infinite Card is a premium lifestyle card. Its value is built on four pillars: a massive welcome bonus, a powerful points engine for daily spending, a unique lifestyle credit, and strong insurance. Let’s dissect the fine print on each.

Benefit 1: The 70,000-Point Welcome Bonus

This is the card’s biggest and most immediate attraction. The current offer for new cardholders is 70,000 BMO Rewards points, plus the $120 annual fee is waived for the first year.

Here’s how you get the bonus:

• You get 60,000 points when you spend $6,000 in your first year.
• You get an additional 10,000 points when you keep your card for 12 months (your anniversary bonus).

What is 70,000 BMO Points Worth?

This is the most important question. A BMO Reward point’s value is fixed. When you redeem for travel or use “Pay with Points,” 150 points = $1. This means one point is worth about $0.0067 (or 0.67 cents).

Therefore, the 70,000-point bonus has a real-world value of approximately $466. Getting $466 in rewards *plus* your first year free is one of the strongest welcome offers in Canada.

Benefit 2: The 5x Points Earning Engine

This is the card’s long-term power. You earn 5 BMO Rewards points for every $1 spent in four key categories:

• Groceries: Loblaws, Sobeys, Metro, Safeway, etc.
• Dining: Restaurants, bars, coffee shops, and food delivery (like SkipTheDishes or Uber Eats).
• Gas: Any gas station (Petro-Canada, Shell, Esso, etc.).
• Transit: Public transit, GO transit, and ride-sharing (like Uber and Lyft).

On everything else (like Walmart, Costco, or Amazon), you earn 1 point per $1 spent.

The *Real* Value of 5x Points:

Since we know 1 point = 0.67 cents, “5x points” is not 5% cash back. The math is:

5 points * $0.0067/point = a 3.35% return.

This is still an *excellent* return on your spending, but it’s crucial to know it’s a 3.35% reward, not 5%.

The Crucial Fine Print (The Cap):

This 5x earning rate is capped. You earn 5x points on the first $50,000 in combined annual spending across these categories. After you hit that $50k cap, your earn rate drops to 1 point per $1. For 99% of Canadians, a $50,000 cap (over $4,100 per month) is extremely generous and high.

Benefit 3: The $50 Annual Lifestyle Credit

This is the card’s “secret weapon” that makes the annual fee easier to justify. Every single calendar year, you get a $50 “lifestyle credit”.

Unlike other cards that make you book travel or use a specific service, this credit is automatic and simple. The first purchase you make of $50 or more in a year, you will automatically receive a $50 statement credit. It’s that easy.

This perk effectively makes the card’s $120 annual fee a net cost of only $70 ($120 – $50), making it one of the most cost-effective premium cards on the market.

Benefit 4: Mobile Device & Travel Insurance

This card comes with a strong, modern insurance package:

• Mobile Device Insurance: This is a key perk. If you buy a new phone with your card (or pay your monthly phone bill with it), you are covered for up to $1,000 if it’s lost, stolen, or accidentally damaged.
• Travel Insurance: You get a solid package that includes Emergency Medical (up to $2M), Trip Cancellation/Interruption, and Flight Delay insurance.
• Purchase Protection & Extended Warranty: Standard on premium cards, this covers new items for 90 days and doubles the warranty for up to one year.

All Fees and Costs at a Glance

Here is the fine print on what this card costs. The most important numbers are the $120 fee (waived year 1), the high interest rate, and the 2.5% foreign transaction fee.

The Drawbacks: What to Know Before You Apply

No card is perfect, and this one has some significant drawbacks you must consider.

1. The 2.5% Foreign Transaction Fee

This is the card’s biggest contradiction. BMO gives you a good travel insurance package, encouraging you to book flights with it. But then it charges a 2.5% fee on all foreign purchases, making it a terrible card to *use* while you’re on that trip. This fee will cost you an extra $2.50 on every $100 you spend abroad and will wipe out any rewards you earn.

2. The Point Value (It’s Not 5% Cash Back)

As we analyzed, “5x points” sounds better than it is. It’s a 3.35% return. This is still excellent, but it’s not true 5%. This is less than the 4% true cash back you get on groceries with the Scotiabank Momentum Visa Infinite. However, the BMO card’s 5x categories (3.35% return) are *broader*, covering dining, gas, and transit, not just groceries.

3. No Airport Lounge Access

This is a major missing perk for a “Visa Infinite” card. Despite its name, this card does not include any complimentary airport lounge passes. It is a lifestyle and spending card, not a premium travel-perk card. If you want lounge access, you’ll need to look at the BMO eclipse Visa Infinite *Privilege* card or a CIBC Aventura card.

4. The 20.99% High Interest Rate (APR)

This is the most important warning for any premium rewards card. This card is a rewards tool, not a debt tool. If you carry a balance, the 20.99% interest rate will cost you far more than the 3.35% you earn in rewards. This card is only for people who pay their balance in full, every single month.

Who Can Apply for This Card?

This is a “Visa Infinite” product, which means the income requirements are set by Visa and are not flexible. You must meet one of these two criteria:

• A minimum personal annual income of $60,000.
• OR a minimum household annual income of $100,000.

In addition, you will need to:

• Be a Canadian resident.
• Be the age of majority in your province or territory.
• Have a Good to Excellent credit score (typically 700 or higher) to be approved.

How to Apply: A Step-by-Step Guide

Applying for this card is a straightforward online process. Here’s what to expect:

1. Visit the Official BMO Page: Navigate to the BMO eclipse Visa Infinite Card application page.
   VISIT THE CARD SITE

   

2. Gather Your Information: You will need your personal details: Social Insurance Number (SIN), address, employment information, and your total annual personal or household income.
3. Fill Out the Online Application: The form is secure and takes about 10-15 minutes.
4. Consent to a Credit Check: You must consent to a “hard inquiry” (a formal credit check) on your credit report for BMO to assess your application.
5. Receive Your Decision: You may get an instant decision. In some cases, your application may be “pending review,” which means a BMO agent needs to manually verify your information.
6. Activate Your Card: Once approved, your card will arrive in the mail within 7-10 business days. You must call the number on the sticker to activate it.

The BMO eclipse Visa Infinite vs. Its Alternatives

How does this card stack up against its direct premium competitors?

Alternative 1: Scotiabank Momentum Visa Infinite Card

• Why it’s a strong competitor: This is the king of true cash back. It offers 4% cash back on groceries and recurring bills, and 2% on gas and transit. Its $120 annual fee is the same.
• Where BMO wins: The BMO card’s 5x (3.35%) categories are *broader* (it includes “dining” which the Scotia card doesn’t). BMO also has the $50 lifestyle credit (making its net fee $70), the massive 70k point bonus (Scotia’s bonus is usually small), and Mobile Device Insurance.

Alternative 2: American Express Cobalt Card

• Why it’s a strong competitor: This is the true 5x points king. It offers 5x Amex points on food and dining, and those points can be worth 1-2 cents each (a 5-10% return).
• Where BMO wins: Acceptance and simplicity. The BMO card is a Visa, so it’s accepted *everywhere* (including Loblaws, which doesn’t take Amex). BMO’s 5x categories also include Gas and Transit, which the Cobalt’s 5x does not. The BMO card’s annual fee ($120 – $50 = $70 net) is much lower than the Cobalt’s ($155.88/year).

Frequently Asked Questions (FAQ)

1. What is the $50 lifestyle credit?

It’s an automatic $50 statement credit you receive once per year after you make any single purchase of $50 or more. It effectively reduces your annual fee to $70.

2. What is the 5x points spending cap?

You earn 5x points on the first $50,000 in combined spending per year across groceries, dining, gas, and transit. This is a very high cap, equal to $4,166 in spending per month.

3. What is a BMO Reward point *really* worth?

A BMO point is worth approximately $0.0067 (or 0.67 cents) when redeemed for travel or using “Pay with Points.” This means 5x points is a 3.35% return.

4. Is this card good for travel?

No. While it has good travel *insurance* for booking, it is a terrible card to *use* on your trip. It charges a 2.5% foreign transaction fee and has no airport lounge access.

5. How do I get the 70,000 point bonus?

You get 60,000 points for spending $6,000 in your first year, and 10,000 more points as an anniversary bonus for keeping the card for a second year (and paying the annual fee).

6. How does the mobile device insurance work?

You are covered for up to $1,000 if your new phone is lost, stolen, or damaged. You must have either purchased the phone in full with your card OR you must pay your recurring monthly phone bill with your card.

Conclusion: Who Is This Card Actually For?

After this deep dive, the ideal user for the BMO eclipse Visa Infinite Card is very clear.

This card is perfect for:

• The High-Spending “Lifestyle” Canadian: You spend a lot on groceries, dining, gas, and transit ($2,000+ per month) and want one card that gives a high return (3.35%) on all of it.
• The “Value” Seeker: You’re attracted to the huge $466 welcome bonus and the fact that the $50 credit makes this a low-cost $70/year card.
• The “Phone Breaker”: You value the $1,000 Mobile Device Insurance and want that peace of mind.

This card is NOT for:</s

• • The International Traveller: The 2.5% foreign transaction fee and lack of lounge access are deal-breakers.
  • The “True” Cash Back Optimizer: If your *only* big expense is groceries, the Scotiabank Momentum (at 4% true cash) is better.

* Anyone Who Carries a Balance: The 20.99% APR will destroy all the value you gain from rewards.